Announcement on Financial Forecast and Dividend Forecast Revision
The financial forecast and dividend forecast announced on May 13, 2011 have been revised based on recent business trend as follows.
1. Financial Forecast Revision
Consolidated financial forecast revision for the year ending March 31, 2012 (April 1, 2011 - March 31, 2012)
Net sales (Millions of yen) |
Operating income (Millions of yen) |
Ordinary income (Millions of yen) |
Net income (Millions of yen) |
Net income per share(yen) |
|
Previous forecast (A) | 730,000 | 100,000 | 102,000 | 66,000 | 368.60 |
Revised forecast (B) | 640,000 | 50,000 | 52,000 | 34,000 | 189.87 |
Change (B-A) | △90,000 | △50,000 | △50,000 | △32,000 | - |
Change ratio (%) | △12.3 | △50.0 | △49.0 | △48.5 | - |
Results for the year ended March 31, 2011 | 668,722 | 97,870 | 101,919 | 71,924 | 401.73 |
Reason for revision
Semiconductor device prices fell because of the effects of inventory adjustments of smartphones, tablet PCs, and other products, and semiconductor makers are rapidly restraining their capital investment. As a result, although no changes were made to the financial forecasts for the first half of the fiscal year, sales in the semiconductor production equipment segment in the second half are expected to fall below the previous prediction, and we have revised its consolidated financial forecasts for the full fiscal year announced on May 13, 2011.
Note: The content of the financial forecast as described in this financial statement is based on certain reasonable assumptions, drawing on the information currently available such as the economic situation in Japan and throughout the world and other variable factors that have impact on the financial results of the Company.
These assumptions may be influenced by market conditions, competitive conditions, the introduction of new products and their success or failure, the global condition of the semiconductor industry and other uncertainties. Therefore, actual sales and profit may differ significantly from the forecast.
2. Dividend Forecast Revision
Dividend per share | |||||
(Yen) | 1Q-end | 2Q-end | 3Q-end | Year-end | Total |
Previous forecast (May 13, 2011) |
- | 45.00 | - | 85.00 | 130.00 |
Revised forecast | - | 45.00 | - | 22.00 | 67.00 |
Results for the year ending March 31, 2012 | - | - | - | - | - |
Results for the year ended March 31, 2011 | - | 38.00 | - | 76.00 | 114.00 |
Reason for revision
TELs dividend policy is to link dividend payments to business performance and earnings on an ongoing basis and the basic policy for returning profits to shareholders is to maintain a payout ratio of around 35% based on consolidated net income.
Although no changes were made to the dividend per share payable at the end of the second quarter, in conjunction with the revision of the consolidated financial forecast for the fiscal year, we have revised the dividend per share payable at the end of year as above.